Welcome login | signup
Language en es fr

Forum Post: SEC steps up investigation of Chesapeake's McClendon

Posted 11 years ago on March 3, 2013, 9:27 p.m. EST by GirlFriday (17435)
This content is user submitted and not an official statement

McClendon, who has agreed to step down as president and CEO by April 1, has profited from an arrangement that gives him with a share in every well drilled by the company.

Chesapeake faces several shareholder lawsuits for deals it has cut with McClendon. In addition to granting him a personal stake in company wells, the company purchased his personal map collection and co-sponsored his basketball team. Reuters reported in April that McClendon had borrowed more than $1 billion from one of Chesapeake’s business partners.

Read the rest here



Read the Rules